The business subsequently proved profitable, good dividends were paid, and the securities for the most part commanded a premium in the market.
At harvest-time the produce is placed in the barns of the lessor, who first deducts 25% as premium, then 16% for battiteria (the difference between corn before and after winnowing), then deducts a proportion for rent and subsidies, so that the portion retained by the actual tiller of the soil is extremely meagre.
The rise of the industry has been favored by protective tariffs and by a system of excise which allows a considerable premium to manufacturers.
The minimum annual premium is six lire for an annuity of one lira per day at the age of sixty, and insurance against sickness.
Nevertheless the law of 1881 did not succeed in maintaining the value of the state notes at a par with the metallic currency, and from 1885 onwards there reappeared a gold premium, which during 1899 and 1900 remained at about 7%, but subsequently fell to about Direct Liability of State.) Notes issued Aggregate Date.